Navigation Links
QLT announces preliminary results of tender offer
Date:1/27/2009

VANCOUVER, Jan. 27 /PRNewswire-FirstCall/ - QLT Inc. ("QLT") (NASDAQ: QLTI; TSX: QLT) announced the preliminary results of its modified "Dutch Auction" tender offer (the "Offer"), which expired at 5:00 p.m. (Eastern time) on January 26, 2009.

Based on the preliminary report of the depository for the Offer, QLT expects to purchase for cancellation 20,000,000 of its common shares (the "Shares") at a price of US$2.50 per Share, for a total cost of US$50 million. The purchased Shares represent approximately 26.8% of the Shares outstanding as of January 26, 2009. Shareholders who deposited Shares under the Offer will have approximately 81.8% of their Shares deposited purchased for cancellation, subject to certain limited exceptions. After the repurchase, approximately 54.6 million Shares will remain outstanding.

The number of Shares to be purchased and the price per Share under the Offer are preliminary. Final results will be determined subject to confirmation by the depository of the proper delivery of the Shares validly tendered and not withdrawn.

QLT and the depository expect that the exact number of Shares to be taken up and paid for under the Offer will be determined on or before January 29, 2009. Payment for Shares tendered and accepted for purchase will be made promptly thereafter. The Shares deposited but not purchased, including Shares invalidly deposited, will be returned as promptly as possible.

Goldman, Sachs & Co. and BMO Capital Markets served as dealer managers for the Offer. Georgeson Shareholder Communications Canada, Inc. served as information agent and Computershare Investor Services Inc. served as the depository. For questions and information about the Offer, please contact the information agent, toll free, at 1-866-733-9452.

About QLT

QLT Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies. Our research and development efforts are focused on pharmaceutical products in the field of ophthalmology. In addition, we utilize three unique technology platforms, photodynamic therapy, Atrigel(R) and punctal plugs with drugs, to create products such as Visudyne(R) and Eligard(R) and future product opportunities. For more information, visit our website at www.qltinc.com.

    QLT Plug Delivery, Inc. is a wholly-owned subsidiary of QLT Inc.
    Atrigel is a registered trademark of QLT USA, Inc.
    Visudyne is a registered trademark of Novartis AG.
    Eligard is a registered trademark of Sanofi-aventis.

QLT Inc. is listed on The NASDAQ Stock Market under the trading symbol "QLTI" and on The Toronto Stock Exchange under the trading symbol "QLT."

Certain statements in this press release constitute "forward-looking statements" and "forward-looking information" of QLT, which involve known and unknown risks, uncertainties and other factors that may cause our actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. These statements are only predictions and there are a number of risks, uncertainties and other factors which could cause actual events to differ materially, including but not limited to variations in the depository's preliminary count and the fact that our intention to purchase our common shares may be impacted by market factors and our operating results, and by other factors described in detail in QLT's Annual Information Form and Annual Report on Form 10-K, quarterly reports on Form 10-Q and other filings with the SEC and Canadian securities regulatory authorities. Forward-looking statements are based on our current expectations and QLT assumes no obligation to update such information to reflect later events or developments, except as required by law.


'/>"/>
SOURCE QLT Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Tamaris Announces Foot and Leg Ulcers Pose Significant Health Threat
2. KRAUSE, KALFAYAN, BENINK & SLAVENS, LLP, Announces Filing a Class Action Lawsuit Against Scripps Health, et al.
3. Aflac Announces Additional Teleconference Webcast
4. PA Governor Rendell Announces $94 Million Investment in Water Infrastructure
5. Alma Lasers Announces FDA Clearance of the UniForm Handpiece
6. SpectraScience Announces Business Update
7. AMDL, Inc. Chairman & CEO Announces Expert Opinion on Chinas Economic Forecast
8. NEC Foundation of America Announces New Grants
9. Authentidate Announces Termination of Merger Agreement With Parascript, LLC
10. Neovasc Announces Agreement With LeMaitre Vascular for Exclusive Distribution Rights to its Biological Vascular Strips
11. MedClean Technologies Inc. Announces New Ticker Symbol
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2017)... ... June 26, 2017 , ... ... recent review of government data released by the United Soybean Board. , ... Maryland’s soybean farmers have increased their productivity on less land per bushel, the ...
(Date:6/26/2017)... (PRWEB) , ... June 26, 2017 , ... New patients ... from Dr. Angela Cotey, with or without a referral. Dr. Cotey is a trusted ... of this preferred tooth replacement option. , Patients with missing teeth in Fitchburg, WI, ...
(Date:6/25/2017)... ... 2017 , ... CareSet Labs released the Root NPI Graph today at the ... greatly improved version of the Doctor Referral teaming dataset commonly available from Medicare. , ... called the the “Doctor Referral Dataset” as released by Medicare and “DocGraph” as released ...
(Date:6/24/2017)... (PRWEB) , ... June 24, 2017 , ... ... Dental365 family. Located at 217 Portion Road in Lake Ronkonkoma, Dental365 offers patients ... and weekends so that visits to the dentist fit into their patients’ busy ...
(Date:6/23/2017)... ... 2017 , ... By scoring 100% for fiscal management and accountability, the Arthritis ... charity evaluator, Charity Navigator, validating ANRF's work as a top charity in America. , ... Navigator and earns ANRF a spot on their “ 10 Charities Worth Watching ” ...
Breaking Medicine News(10 mins):
(Date:5/26/2017)... 26, 2017  Endo International plc (NASDAQ: ENDP ... CEO, will represent the Company in a fireside chat at ... Tuesday, June 13, 2017 at 10:40 a.m. PT / 1:40 ... in Rancho Palos Verdes, CA. ... will be available on the Company,s website at http://www.endo.com/investors/overview ...
(Date:5/23/2017)... Calif. , May 23, 2017  Leaf ... most innovative medical devices for pressure ulcer prevention, ... the American Association of Critical Care Nurses, National ... May 22-25. The Leaf Patient Monitoring ... specifically for the hospital environment.  The system seamlessly ...
(Date:5/18/2017)... May 18, 2017  Two Bayer U.S. Pharmaceutical leaders ... during its recent 28 th Woman of ... event showcases HBA,s longstanding mission of furthering the advancement ... Cindy Powell-Steffen , senior director of ... division, and Libby Howe , a regional business ...
Breaking Medicine Technology: